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Inalum still has the chance to own more than 65.02% of Bukit Asam shares

25 April 2019 04:04 PM  Company: PT. Bukit Asam Tbk[PTBA]
Rp. 2,850  +40 (1.42%)

JAKARTA. PT Indonesia Asahan Aluminum (Persero) or Inalum still has the opportunity to own more than 65.02% of PT Bukit Asam Tbk (PTBA) shares, by purchasing PTBA's Treasury Stock.

Arviyan Arifin, President Director of PTBA, said this after the company's Annual General Meeting of Shareholders (AGMS) on Thursday (24/4). "It might be, because there are treasury stocks that we will sell," Arifin said.

As of December 2018, PTBA had as many as 980,283,500 shares obtained from buybacks. This amount is equivalent to 8.51% of the total number of PTBA's shares.

Nevertheless, Arifin could not ascertain whether Inalum was interested in increasing its ownership in PTBA. The reason, said Arifin, is that the purchase of treasury stocks requires a decision from the Indonesian government as a series A shareholder. "We hope that this treasury stock will also be taken by Inalum," Arifin said. (KR/AR)

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PT. Bukit Asam Tbk [PTBA]   Rp. 2,850   +40 (1.42%)